GBP futures: upside could be running of steam

Pablo Piovano FXStreet

Investors trimmed their open interest positions by more than 3.6K contracts on Wednesday vs. Tuesday’s final 227,514 contracts. Volume, instead, rose for the second session in a row, this time by around 8.6K contracts.

GBP/USD met resistance at 1.3200 so far

Cable’s bullish move clinched tops near 1.3200 the figure on Wednesday, where some decent resistance turned up. Declining open interest and rising volume could remove some legs from the ongoing up move.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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